AbbVie nears roughly $8 billion deal for drug developer Cerevel-sources

ImmunoGen

06/12/2023 21:11

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    By David  Carnevali
       NEW YORK, Dec 6 (Reuters) - AbbVie Inc  ABBV.N  is
nearing an approximately $8 billion deal to acquire Cerevel
Therapeutics Holdings Inc  CERE.O , a developer of drugs for
neurological conditions such as Parkinson's, people familiar
with the matter said on Wednesday.
    The acquisition would come just days after AbbVie agreed to
buy cancer drug developer ImmunoGen Inc  IMGN.O  for $10.1
billion in cash, highlighting its appetite to place big bets on
promising new medicines. 
    AbbVie is in talks to pay around $45 per share for Cerevel,
which is backed by private equity firm Bain Capital, the sources
said.
    If the negotiations conclude successfully, a deal could be
announced as early as this week, the sources added, requesting
anonymity because the matter is confidential.
    AbbVie and Cerevel did not immediately respond to requests
for comment.
    Cerevel shares jumped 14% to $42.20 in afterhours trading in
New York on Wednesday. 
    

 (Reporting by David Carnevali in New York
Editing by Greg Roumeliotis)
 ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters
Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))